LBS Bina Group Berhad

LBS Bina Group Berhad is a public company listed on the Main Market of Bursa Malaysia Securities Berhad in 2002 and mainly engages in the development of residential and commercial properties primarily in Malaysia and the People's Republic of China. It also offers turfing and landscape contracting, insurance agency, building, project planning, implementation contracting, project consultancy, civil engineering services, and involved in the development, management, and operation of golf courses and club house.

The Group has land bank of 2,500 acres with an estimated total Gross Development Value (GDV) of more than RM8.7 billion. 15 on-going projects with a total GDV of about RM968 million are presently being carried out in Klang Valley and Cameron Highlands.

LBS diversified business investments extend to resort and hospitality industry. Through a Sino-foreign joint venture with a local partner, LBS shares 60% profits in Lakewood Golf and Country Club, an award winning 36-hole golf course in Zhuhai, China. Additionally, LBS is also the management company of the Zhuhai International Circuit, a prestigious car racing site of international recognition which is visited by many from around the world.

UHY SERVICES

We tailored the services we provide according to the size and nature of LBS Bina Group Berhad. As the Auditor, the Kuala Lumpur audit team services LBS Bina Group Berhad in the following:

Audit

Monitoring Accountant

Reporting Accountant

Taxation

Our approach to LBS Bina Group Berhad emphasizes on proactive communication. We keep LBS' key stakeholders fully engaged with every step of the audit, including their obligations and the timing of each stage.

Why UHY

Our UHY team has extensive experience in handling relevant services for several key construction industry players. This in-depth insight to the construction business and a broad understanding of the factors affecting such businesses naturally made UHY the right choice for LBS.

Tax Advisory on Cross Border Transactions

As one of the recent tax advisory projects, UHY Tax was engaged to study and provide advice on tax implications on cross border transaction involving an Energy Service Company (ESCO) listed in the Hong Kong Stock Exchange.

This Company provides a broad range of energy solutions including designs and implementation of energy saving projects, retrofitting, , energy conservation, energy infrastructure outsourcing and comprehensive energy audit for the facilities and identifies improvements to save energy at no upfront investment cost to its clients.

In 2015, the Company became one of the leading energy management contract providers in Asia and the first ESCO listed on the Hong Kong Stock Exchange. Concurrently, the Company has further expanded its environment and energy-related businesses across a wide area including green building facade lighting and renewable solutions.

Currently, this highly prestigious Company has its footprints in over 20 different countries, making it a highly recognized multi-national company.

UHY SERVICES

UHY Tax has provided advisory services and opinion in relation to the integration of corporate tax compliance and tax issues in Malaysia, Labuan Offshore, Hong Kong and Indonesia with a successful collaboration with our international business and tax consultants.

As the tax advisor, the UHY Tax Team provided:

Opinion on the most tax efficient structure and transactions.

Opinion on the formation of a Labuan Offshore company and implement the optimised business model in Labuan.

Why UHY

UHY Tax was selected for this engagement as their tax advisors because it has extensive experience in conducting global tax planning and identifying the key areas of risk with reference to the Company's intent, objectives and structure. UHY Tax worked closely with the Company's top management personnel to ensure that the tax plan fits into their business plan.

RedHot Media International Limited

RedHot Media is a group of advertising and media companies. Much of its activity is as a media broker, purchasing advertising space on behalf of its clients but extending the traditional broker role to encompass the many new opportunities presented by online and mobile applications and social networks. Based in Malaysia, the company operates a media bartering system called AxChange and is now expanding its presence across China and other parts of Asia.

With a market capital of 42.6 million Sterling Pound (equivalent to approximately 225 million Ringgit), RedHot was identified by a leading financial magazine in the UK in the beginning of the year and ranked Number 7 for its performance out of the 26 companies that listed in AIM 2008. As of end January 2009, RedHot's share price showed a 44% growth, closing at 118 pence in Sterling Pound.

For the financial year ended Dec 31, 2010, it recorded a net profit of RM9.2 million, up 102% from RM4.53 million in 2009. Revenue rose 69% to RM44.29 million from RM26.18 million. Earnings per share rose to 25.32 sen from 12.45 sen.

True and fair opinion on the financial information in the admission document

Long form (due diligence) report on the issuer

Report and opinion on adequacy of working capital

Report and opinion on adequacy of financial reporting procedures.

Working together, the London team structured and oversaw the required fieldwork, which was carried out in Malaysia by UHY's Audit & Assurance team. Since the AIM listing, UHY Hacker Young has been engaged as auditors for the AIM-listed company and local audits for RedHot Media have been carried out by UHY in Malaysia and also by UHY's member firm in China.

Why UHY

UHY was selected by RedHot Media because it is able to provide expertise in London for taking clients to an AIM listing while provide local representation in Malaysia.

The client also valued having a UHY director, Dato' John Lim, overseeing the engagement. John, who is Malaysian but based in London, was able to communicate and interact effectively with RedHot Media personnel in the local language and as he knows local customs, their communication synergy was excellent.

WORKING WITH UHY

RedHot Media's CEO, Cheong Chia Chieh, said "We were pleased to have the opportunity to develop a close working relationship with Dato' John Lim who has been our main link in the international audit assignment and our principal point of communication on significant issues."

Affin Bank Berhad

UHY Malaysia's Distressed Asset, Advisory & Management division was appointed by Affin Bank Berhad as the Receiver and Manager to dispose of Asian Neuro & Cardiac Center (ANCC) and sale of a 5 star hotel with Boustead Group.

Asian Neuro & Cardiac Center (ANCC)

Alvin Tee of UHY in Malaysia was appointed by Affin Bank Berhad as the Receiver and Manager of the property of Bio Science Capital Sdn Bhd (BSC). BSC owns the Asian Neuro & Cardiac Centre (ANCC) which is a six-storey purpose built medical centre located near the Subang Skypark. The indicative market value of the ANCC was more than RM100 million. The ANCC was later sold by Receiver and Manager to Sime Darby Berhad's (Sime Darby) Healthcare Division.

Sime Darby is listed on the Main Market of Bursa Malaysia. Sime Darby is also Malaysia's oldest and largest conglomerate with operations in more than twenty countries throughout Asia Pacific and Europe with a workforce of more than 100,000 employees.

Not related to Affin. However, I would rather say that we have the strength in completing these deals a largest conglomerate company, such as Sime Darby Group & Boustead Group.

Affin Bank Berhad (AFFINBANK) is a wholly-owned subsidiary of Affin Holdings Berhad which is listed on Bursa Malaysia. In June 2005, it merged with the former Affin-ACF Finance Berhad. To date, it has a network of 82 branches nationwide. The Bank is constantly reviewing the geographical reach of its branches to better serve its customers.

The Bank serves both retail and corporate customers. The business units of the Bank comprise Enterprise Banking, Consumer Banking, Debt and Capital Markets and Hire Purchase.

Royale Bintang Hotel Seremban

Formerly the Hilton Hotel, Seremban, the Royal Adelphi Hotel was later renamed the Royale Bintang Resort & Spa Seremban.

The Royal Bintang Hotel Seremban is situated on the Lake Garden's district of the state capital of Negeri Sembilan Darul Khusus, Royal Bintang Seremban. The Royal Bintang Hotel Seremban is a 5-star suburban Hotel, overlooking the city center as well as the hilly landscapes of Malaysia.

UHY SERVICES

Acting as the Receiver and Manager, our professional team provided:

Take possession of all assets belonging to the Company, including assets covered under the debenture;

Secure and insure all the assets belonging to the Company, including assets covered under the debenture;

Notify the management, employees (if any) and relevant authorities of the appointment of the Receiver and Manager and the effect of the receivership;

Institute control over the daily operations of the Company;

Liaise with the directors for the statement of affairs of the Company and all requisite documentation to facilitate the receivership and sale of assets;

realise all the Company's assets by way of tendering.

Why UHY

Our dedicated Distressed Asset, Advisory & Management (DAAM) team provides practical and innovative solutions to the inherent challenges of a Receiver & Manager assignment. The team prides itself on its ability to deliver timely and accurate manner. The ANCC was disposed within a one-year period with an indicative market value of over RM100 million. The Royal Adelphi Seremban deal was completed within 20 months. The hotel was disposed of with ongoing operation.

Our Senior Partners and Directors for the corporate recovery and DAAM team have valuable experience and through the course of their careers built on their expertise to much success. Affin Bank was able to leverage on our capabilities in UHY to much success.

Chin Hin Group Berhad

Chin Hin Group Berhad is a public company listed on the Main Market of Bursa Malaysia Securities Berhad and is principally involved in the distribution of building materials and provision of logistics, supply of ready-mixed concrete and manufacturing of AAC and precast concrete products, wire mesh and metal roofing systems.

The Group has grown over the years from a small hardware shop to an integrated building materials provider with the ability to supply a comprehensive range of building materials from cement, steel reinforcement bars to a large range of OBM products. The Group is also able to supply in-house manufactured products such as AAC products, precast concrete, wire mesh and metal roofing systems.

AAC products manufactured by Chin Hin Group is a type of concrete that is lighter in weight and yet provides better insulation and fire resistance compared to regular concrete. AAC products is an alternative to cement bricks, clay bricks and/or masonry concrete blocks.

The Group also manufactures various types of precast concrete pipe products, such as pipe culverts, precast jacking pipes, sewerage pipes and precast concrete manholes. Precast concrete manholes are easier and require less time to install compared to the conventional method of excavating and building up the manhole with bricks and mortar on site.

The Group’s competitive strengths lies in the integrated nature of its businesses as they manufacture, distribute and deliver a wide range of building materials for the building industry. As at the date of their listing, the Group has ten (10) branch offices located in cities and major towns of every state in Peninsular Malaysia allowing the Group to supply and service their customers efficiently. This wide range of network has enable the Group to build up a 4,000 strong customer base.

UHY SERVICES

UHY was appointed as by Chin Hin Group as their Auditor as well as the Reporting Accountant for its IPO on Bursa Malaysia.

Acting as Reporting Accounts, our team provided:-

Review financial statements of Chin Hin Group to ensure compliance to accounting standards.

Coordinate and liaise with all working parties within the Due Diligence Working Group, Securities Commission and Bursa Malaysia.

Acting as Auditors, our audit approach to Chin Hin Group Berhad emphasizes on proactive communication. We keep key stakeholders of Chin Hin Group Berhad fully engaged with every step of the audit, including their obligations and the timing of each stage.

Why UHY

Our team has extensive experience in auditing companies in the distribution and manufacturing industries as well as the necessary experience to act as reporting accounts in relation to their IPO exercise.